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Benzinga's M&A Chatter for Wednesday September 26, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday September 26, 2012:

Hearing Financing for Best Buy Deal Coming Through

The Rumor:Financing for founder Richard Schulze's takeover of Best Buy (NYSE: BBY) is coming through, according to Deal Reporter. Schulze is currently in a 60 day due diligence period. If a transaction is proposed and the Board of Directors rejects such proposal, Mr. Schulze has agreed not to pursue an acquisition until January 2013.

Best Buy closed at $17.59 Wednesday, a gain of 3.90% on average volume.

Citigroup Note Says Abercrombie & Fitch Prefers Going Private

The Rumor:Abercrombie & Fitch (NYSE: ANF) likely prefers going private, according to a note from Citigroup. Abercrombie & Fitch announced on September 13 it had hired Goldman Sachs to deal with activist investor Ralph Whitworth, who said the company is worth $50 per share. Leonard Green has been mentioned as a possible buyer.

Abercrombie & Fitch closed at $34.70 Wednesday, a gain of 0.38% on average volume.

Hearing ViroPharma May Attract Potential Bidders

The Rumor:ViroPharma (NASDAQ: VPHM) may be a takeover target, due to the company's angioedema drug Cinryze. On September 21, the FDA announced it would allow resumption of clinical trials of the subcutaneous injection of Cinryze in combination with Halozyme's (NASDAQ: HALO) rHuPH20.

ViroPharma closed at $30.32 Wednesday, a loss of 1.27% on almost twice average volume.